SISM Research
Kodiak Energy currently retains 64% of the outstandingshares of Couger Oil and Gas which according to SISM Research would mean that Kodiak shareholders have anautomatic ownership in Cougar Oil & Gas. The following excerpt fromthe SISM report should be noted:
The closing price of Cougar on Tuesday, October 27th, was $1.65,
giving KDKN's shareholding in Cougar a value of $62.8 million. The
value of KDKN's shareholding in Cougar, plus its own net book value of
$5.7 million, is $68.6 million (
.62/share). We have a Speculative Buy
recommendation on Cougar Oil and Gas, with a $7.25 target price. To
put it another way, if our target of $7.25 on Cougar were to come to
pass, KDKN's shareholding in Cougar Oil and Gas would be worth
$276.7 million or $2.50 per share on its own, 24 times more than compared
to the current share price of Kodiak.
The currently quoted share prices are: KDKN 0.18 GOUGF 2.95
I'll let you do the math.